Asian stock markets were mixed on Wednesday as Chinese shares declined amid escalating U.S.-China trade tensions, while investors assessed inflation data from South Korea and the Philippines. U.S. stock index futures were lower in Asian trading, dragged down by losses in technology stocks following disappointing earnings from Alphabet. Chinese markets, reopening after the Lunar New Year holiday, reacted negatively to new U.S. tariffs, with the Shanghai Composite falling 0.4%, the CSI 300 losing 0.3%, and the Hang Seng index dropping 1%. In response to U.S. trade measures, China announced retaliatory tariffs on American goods, set to take effect on February 10, further straining economic relations between the two countries. Meanwhile, Japan’s Nikkei 225 and TOPIX remained flat, while Australia’s S&P/ASX 200 gained 0.6%. Indonesia’s Jakarta Stock Exchange Composite fell 0.5%, and India’s Nifty 50 futures signaled a marginal decline at open. In South Korea, inflation exceeded 2% for the first time in five months, driven by a weaker currency and rising import costs. Despite this, the KOSPI index rose 1.1% as AI-driven optimism lifted e-commerce stocks. In the Philippines, inflation held steady at 2.9%, giving the central bank room to maintain an accommodative policy stance. The Philippine PSEi Composite surged 1.7% on expectations of potential rate cuts
